Traditionally, management accountants have been the people encouraging operations staff to work more efficiently and to save money. Nowadays, the pressure of staying competitive in a globalised world is putting the finance function itself under the spotlight. Accountants need to demonstrate that they can also reduce their own operating costs and properly support their customers, the frontline business units.
In the first of two articles, Ian Herbert of Loughborough University looks at cost management within the context of the finance function. The second article will explore the philosophy and techniques of ‘Lean’ working in business support functions.

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Closed access. This article was published in Financial Management magazine and the website is at: http://www.cimaglobal.com/